Mentor or program?

Question

I’ve spent the year reading, listening to podcast's, and following social media. I have not begun my RE investing journey. I am anxious in beginning to say the least. Should I get a mentor or buy a program? Anyone good to trust? I also don’t want to get trapped in any social media investing scams.

This is where my strategy lies as of now. I am interested in seller financing (Ron LeGrand) as it can avoid $ down. I am able to do a HELOC also, and flips and BRRR's scare me because of dealing with contractors, but maybe because I haven't done any yet. I am looking for monthly cash flow, long term and possibly short term.

I am ready, but feel like I need someone to guide me in the beginning. Give me some good experienced advice please. Thanks everyone! This is my first post of many.

Alecia Loveless · Answer

@Wyndsor Belcher Do not waste your money in a mentorship program. I have spent $18000 in 3 such programs and all were wasted. First was Hugh Jones Inner Circle. Promised to have contact with him for $8000. No such luck. Only associates. And occasional phone calls where you could never seem to get your questions answered. Second was a women’s investment group. Went defund 6 weeks in and stole $7000 and no further contact and took down websites and all contact info.

Third is Brandon Turners Better Life Group. Am having technical difficulties. They are working to fix that. I think they will the rest of the website is working. $2900.

Don Spafford · Answer

Check out the Tribe of Titans.  DM me for a link.

It is a more affordable option with an educational platform similar to BP but also offers additional courses and training programs if desired or needed

Wyndsor Belcher · Answer

Thanks I would love to look into it and check it out. Where can I access this training and its information?

Charles Carillo · Answer

If you are interested in multifamily investing, DM ME. We have a free 3-month multifamily training program (no upsells).

Kerry Baird · Answer

I have paid for a couple of courses that I got a lot out of, but only after I'd been buying houses for some time.

My advice is to attend a local meetup.  Spend some time learning and listening, so you can identify a segment of real estate that really lights you up.  You need to be the one to take action, and buying a course won't necessarily help you do that.  You have to be internally motivated, course or no course.

Ryan Irwin · Answer

@Wyndsor Belcher I would recommend finding someone local who did or is doing what you want to do. This is what I have done. If you can't find someone, then find the closest meet up (or do both). Bottom line, surround yourself with others that are doing the things you want to do and will help elevate you to what you want to achieve. You are the average of the five people you spend the most time with, so get the odds in your favor.

Timur Salikov · Answer

"I am interested in seller financing (Ron LeGrand) as it can avoid $ down."Most of the time you do have to put money down for seller financing. Also I be careful, most people who offer seller financing are doing it because they want above market price. To start, I would suggest you get a 2 - 4 unit 3.5% down FHA loan and live in one of the units. I think its the best place to get stated with little money down and huge upside potential.

Jason Wray · Answer

Wyndsor,

Have a case of the cold feet and not ready to jump into the REI pool.  Makes sense to want to have someone in your corner to help navigate you to avoid lost time and money.  Good news is advice here on Bigger Pockets is free and very useful.  My advice is to get with a few experts to help create a game plan.

All you really need is a seasoned Banker, Real estate agent and GC- contractor.  We generally all work together to help the investor get approved for and buy the best property based on the initial game plan.  Create a team that is going to protect you and your future investments that’s the key.  You want to create a real estate portfolio so the initial conversation should be focusing on the long term goals not just one purchase.

The first property is the first stepping stone to get to the second, third and more.  The goal of the Banker, Agent and GC is to help you build your REI portfolio so you have to do the math up front.  Calculate the potential ARV, rents, renovations costs versus ARV for Max LTV.

The mentors are supposed to be the professionals helping you and ultimately it’s down to just picking your team!  Reach out and message any of us we are here to help...